This compound is primarily utilized in biochemical research as a cofactor in enzymatic reactions, particularly those involving amino acid hydroxylases. It plays a crucial role in the synthesis of neurotransmitters such as dopamine, serotonin, and norepinephrine, making it significant in studies related to neurological and psychiatric disorders. Additionally, it is employed in the investigation of metabolic pathways and the regulation of cellular processes. Its application extends to the development of therapeutic agents targeting conditions like Parkinson's disease and depression, where neurotransmitter regulation is essential.